Treasury Department sold almost $1 billion of Series I bonds a record before Oct. 28 deadline
The Treasury sold $994 million of I bonds before the deadline on Friday — nearly as much in one day as during the three year s from 2018 to 2020, when investors bought slightly more than $1 billion, according to Treasury Department figures shared Monday night. Investors opened 95,482 new accounts on Friday , also a record. Investors purchased more than $3 billion of I bonds last week and almost $7 billion in October — which represent weekly and monthly records, too, according to the Treasury Department . Investors opened 359,822 new accounts last week and 731,336 new accounts during October. Treasury Direct.gov — the website where investors purchase I bonds — crashed on Friday as the volume swelled. Treasury Direct became “one of the most visited websites in the federal government” in the final days of the 9.62% rate window, the Treasury Department said Friday . It typically hosts just a few thousand concurrent visitors. There are two parts to the rate: a fixed rate, which stays the same after purchase, and a variable rate, which shifts twice per year based on inflation. The Treasury Department announces new rates every May and November. Investors may lock in the new 6.89% rate for six months by purchasing I bonds any time before the end of April 2023. You can purchase the assets online through Treasury Direct, limited to $10,000 per calendar year for individuals. You can also use your federal tax refund to buy an extra $5,000 in paper I bonds .
The Treasury sold $994 million of I bonds before the deadline on Friday — nearly as much in one day as during the three years from 2018 to 2020, when investors bought slightly more than $1 billion, according to Treasury Department figures shared Monday night.
TreasuryDirect.gov — the website where investors purchase I bonds — crashed on Friday as the volume swelled. The Treasury Department announces new rates every May and November.
